New EU economic policy required

Greek daily To Vima criticises the European Central Bank (ECB) for raising the key interest rate and calls for a more courageous European economic policy: "Many economic experts have spoken out openly against the policy of increasing interest rates ... and talk about the dogmatism of the ECB president and the danger that Europe's economy could plunge into recession even sooner than the American economy. ... The first signs of a downswing came in the Eurozone's wealthy countries. ... Rich Denmark has officially entered a period of economic downturn. ... Spain and Ireland, once regarded as Europe's 'economic miracles', are following its lead. In Europe, perhaps the time has come when the voices of those politicians and economic experts will be heard who consider it urgently necessary to free economic policy from the tight corset of the Maastricht Treaty ... and to provide public funding to boost the growth of Europe's economy."

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